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Questions on Leasing a Stinger GT

Discussion in 'How to Buy a Kia Stinger' started by FriboRage, Dec 2, 2019.

  1. FriboRage

    FriboRage United States New Member

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    I've been looking all over trying to figure how feasible it would be to grab one of these cars... I've been looking at Kia.com's calculator on lease payments which quotes me at anywhere between $250-300/mo for 36/12... Im aware that doesnt include taxes or the other fees. CarsDirect calculator does include tax and put it at over $400/mo for the same thing. Edmunds.com is putting me at $214/mo with taxes and all.

    There's a dealer not too far from me listing a GT1, they're putting Sticker price as $48645, $7968 "savings" for a price of $40,667... and they put me at $176/mo, which seems insane and way too good to be true. I deducted 6% sales tax from my down payment since there's no tax calculation here, and it still has me at about $299.

    I'd be really interested in that, but I just dont know how some calculators can give me over double the price of others, and this seems too good to be true.

    Am I missing something, especially in that last one?
     
    Last edited: Dec 2, 2019
  2. Funkorea

    Funkorea Canada New Member

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    Visit a dealer in person to get real numbers, that simple.
     
    • Agree Agree x 3
  3. namja

    namja Active Member Sustaining Member +

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    $7968 savings may or may not include customer cash, VIN select bonus cash, finance cash, etc which you may not qualify for if you are leasing.
     
  4. UTStingerGT

    UTStingerGT United States Newish Member

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    Carsdirect has been 90% accurate for me for several lease purchases. There's NO WAY youre leasing a GT for $214 a month, unless you're putting 4k down...
     
    • Agree Agree x 1
  5. Sabs

    Sabs United States Active Member

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    Sounds like you'd be putting a lot of money into a down payment. Never put any money down on a lease. If the car is totaled in an accident, you're out all of that money.

    Instead, set the money aside (in another checking/savings account if you have to) and use it to pay the larger monthly payment.

    We can't tell you if the deal is any good if it includes an unknown amount of money down. Get back to us on the offer with no money down and we can help you out.
     
    • Agree Agree x 1
  6. UTStingerGT

    UTStingerGT United States Newish Member

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    $176 for a 46,000$ car is just so far off that... I mean, did you miss a #? Thats more like the loan cost of 4600$
     
    • Like Like x 1
  7. FriboRage

    FriboRage United States New Member

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    Alright so it's been awhile since my original post, but I've been spending a lot of time thinking about it and Im getting a bit more serious about the idea now. I spoke to a salesman through email, and they told me the price on a Black AWD GT was $35,500. I havnt been there in person yet, so Im not sure if that price has shenanigans attached to it.

    I've read the responses here... I realize my original plan of a big down payment doesnt make a lot of financial sense on a lease. I was just focused on getting the monthlies down as much as possible.

    So, I could take that money and put it into a savings account which I'll draw from for the monthly payments as was suggested above, and it should be the same level of cost-effectiveness all while keeping the cash safe.

    But, now Im checking up on Carsdirect and it seems the way they're figuring it, the monthly cost difference of lease vs finance in this case isnt that large. It shows if I finance the car at $35k, do $10k down, and get $1500 competitive cash bonus, I'll end up around $337/mo at 2.9%.

    Does that sound feasible?
     
  8. UTStingerGT

    UTStingerGT United States Newish Member

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    I would assume that the competitive cash is already baked into the $35,500 the dealership is offering. If you can get a purchase or lease sheet from them and post it here so we can see all the ins and outs, that'd be best. Because is $35,500 out of the door? Also, what is the length of that loan to get down to 337$/mo? I'm guessing its 84 months and thats just a bad idea.

    If I had 10K to put down on a car, I'd keep it simple and buy rather than lease/put money in savings, but thats just me.
     
    • Agree Agree x 1
  9. olimar

    olimar United States Newish Member

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    theres a difference in total value between leasing for 3 years and paying off for 7 years, yet the monthly payment is similar because that's how depreciation works
     
    • Like Like x 1
  10. eflyguy

    eflyguy United States 2500 Posts Club!

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    The familiar sound of bad financial decisions..

    If you need a $300/mo car payment, you need to be looking at a Camry or similar.
     
    • Agree Agree x 2
  11. UTStingerGT

    UTStingerGT United States Newish Member

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    Hey, eflyguy is dead on. Your payment just may not match with a Stinger. The good news is there are a plethora of great car options in your 330$ price range. I looked at:
    VW GTI and GLIs
    Civic SI
    Acura ILX and TLX
    Accord 1.5T Sport
    WRX
    Kona GT
    Mustang EcoBoost
     
  12. falanger

    falanger United States Active Member

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    Would you ever consider balloon financing? If you're not in a state where Kia finance offers it you could do it through a credit union like Penfed. I played around with the payment calculator on their site and you could get a GT AWD at the price you listed for ~340 monthly without even applying the full $10k.

    Just something to think about; always good to have a plan B.


     
  13. General_Vodka

    General_Vodka United States Member

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    I went to a dealer here in CA, they wanted money down. I was willing to put down 10k. Then do a buyout. They didn't seem to be willing to get me a good deal. So I am going to buy a used one for a lot cheaper.
     
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